Monday, February 22, 2010

Budget for disaster

I was taking a look at the United States federal budget. I was able to verify some of the claims I heard. For example, the department of defense, yes it's huge, spends over half a trillion dollars a year. And yes, income taxes are a bigger revenue source for the government than corporate tax, but what really struck me was this pie chart. This pie chart says that the 2011 budget has borrowing as a bigger revenue source than income taxes. All that money we work so hard for, not only is it taken and squandered, but then that much will be borrowed and squandered again. Oh the folly of it all.

But then I took a look at the pie chart for the year 2015. I about fell out of my seat. The 2015 chart shows income tax a even bigger piece of the pie. Combine this with the fact that spending never gets cut. Think about it. This budget predicts that taxpayers will pay a larger portion of an even bigger pie. How much of your income do you think you'll be keeping in 2015? It seems some politician has big plans for it.

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